All’s well that ends well.
US stocks got their latest record highs out of the way early last week—like, in the first hour of trading on Monday—before slumping for a few days until, finally, rebounding on the back of a strong jobs report Friday morning.
Small-caps were a glaring exception to the rally, as they reversed their recent strength to close out the week with a loss. For the week, the S&P 500 SPX closed up 0.35%, the Nasdaq 100 (NDX) gained 0.11%, the Dow Jones Industrial Average (DJIND) rallied 0.4%, and the Russell 2000 (RUT) dropped -0.98%.
This week features a couple of potentially market-moving events: an FOMC announcement at 2 p.m. ET on Wednesday afternoon and “quadruple witching” on Friday (when stock options, stock index futures and options, and single-stock futures all expire), which is often good for some end-of-the-week volatility.
Other US economic releases include: PPI-FD (Tuesday); Consumer Price Index, FOMC Meeting Announcement (Wednesday); Retail Sales, Business Inventories (Thursday); Quadruple Witching, Industrial Production (Friday).